EDPR in Mexican wind debut
Portuguese renewables giant EDPR is entering the Mexican wind market after striking a power-purchase agreement (PPA) with a local mining company.
EDPR expects to have a 180MW wind farm up and running in 2016 after securing the 25-year deal with Industrias Peñoles.
The plant will be located in the northern Mexican state of Coahuila, where the developer said strong wind resources should ensure load factors in excess of 40%.
EDPR is the latest major renewables group to be attracted to Mexico, tipped to become one of the world’s wind development hotspots in the coming decade, when its government hopes to see about 2GW per year added.
EDPR said: “This agreement with Industrias Peñoles, a company with solid financial position and creditworthiness, provides EDPR with an attractive and low-risk opportunity to enter the Mexican market in a sizeable and robust way.
“EDPR considers that Mexico meets its required criteria for investment and potential future growth, namely due to its attractive renewable resources and low risk profile looking for competitive energy costs with long-term stability.”